A more responsible approach to encouraging Startup is needed. Starting up is a dangerous minefield.
At Bouncepreneurs our world is about Entrepreneurs whose ventures have failed and we work to encourage successful Bounce Backs. But too many Start Ups fail. Far too many!
Government, economic development agencies need to do more to tell people of the risks of failure and the life long impacts. More needs to be done to alert Start Ups to impacts of failure and to encourage greater scrutiny of business ideas.
Every section of society youngsters, over 50’s, female, disabled, ethnic minorities, immigrants etc etc are being encouraged to Start Up new enterprises.
Opinions differ but let us say 50% of business Start Ups fail, this means that 50% of Entrepreneurs WILL have significant problems.
An entrepreneur whose venture has failed face these Top 5 issues after failure
Top 5 Issues
Poor credit rating
Loss of self-belief
Breakdown of marriage/relationships
Inability to get work in major businesses due to credit rating screening in recruitment
Cutting the failure rate of Start Up small businesses may reduce the number of those trying a Start Up, which is not politically popular, but it is better than seeing people charge into ventures that are unlikely to work.
Bouncepreneurs make three suggestions to improve the situation:-
1.Startups are given a no nonsense presentation on the long term impacts of failure
2.Training be given on how to test a business idea properly
3. A more modern approach to training for online discovery is rolled out
Written by Michael Allen Founder of Bouncepreneurs
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Bouncepreneurs helps entrepreneurs whose ventures have failed recover from the Grief of losing their business. Our goal is to return entrepreneurs to success and happiness.